DALIAN – The main export markets for Chinese organic red kidney beans in July were the Netherlands, Italy, and the United States. However, the exports were hit by the shipping market crisis and decreased by about 40% compared to last year.
Importers are more concerned about the dark red kidney beans price in the 2021 crop. Market participants predict that prices for new crop goods will be below USD 1,500 per ton, and the pre-sale price will be around USD 1.450 /mt.
The exporters worry that the sales of new goods will be affected by shipping fees. They fear that it is difficult for overseas buyers to accept Chinese prices if shipping fees do not fall. Exporters hope shipping fees to fall below USD 4.000 until October 2021.
This week organic red kidney beans prices dropped to USD 1.720 per ton due to the weak demand.
The current market price in China
|Product Name||Organic red kidney beans|
|Package||25kg paper bag|
|FOB Dalian||USD 1.720 /mt|